China & its Population
China's population
a. 1/3
b. 1/5
c. 1/4
d. 3/8
1/5
What does the term Oriental food refer to
Dishes made and consumed in Southeast Asian countries
Instead of using credit history (which many did not have) or collateral to approve a loan, what did MyBank use
An automated risk profiling system- 310 model
Why do farmers not want to apply for loans
Many felt humiliated and that it showed that one was failing financially or having a family problem
What is the name of the in-house AI system used by MyBank:
a. CraneAI
b. MyAI
c. Tomtit
d. DuckTech
Tomtit
China's farmable land compared to its population
a. Is sustainable
b. Not enough
b.Not enough
1. Large
2. Small
3. Average compared to the United States
2. Small, Average farm in America is 1,800 km while China's are less than 6 km
The 310 Lending model stands for
3- minutes to apply for a loan
1- second to approve
0- human intervention
a. 20%
b. 40%
c. 60%
d. 100%
60%
How was Tomtit used to assess crop yields and risks of defaulting
a. communication
b. satellite imagery
c. sophisticated growth measurement technology
d. GPS system used to access hard to reach/ find areas
b. satellite imagery
Who overtook China for the fastest growing country in the world
India
Largest importer of food in the world
a. United States
b. Germany
c. China
d. Japan
Who were granted preferential interest rates:
a. Close friends and family of MyBank employees
b. Those employing green initiatives
c. No one
d. New customers
China's bottom of period wealth distribution related to other countries are:
a. Better than most
b. Average
c. Below average
d. Could not get much worse
d. China's BoP market is the second largest in the world, which accounts for 1/9 of the world's population
The Goose System is a:
a. Supply Chain Management system
b. Customer relationship management system
c. Information technology system
d. Enterprise Resource Planning system
a. Supply Chain Management system
A traditional SCM system that combines multimodal recognition, large-scale graph computing, deep learning (AI), and blockchain
Are there more Chinese living in rural areas than in urban areas
(Y/N)
No
Problems with farmable land
a. No one to farm it
b. heavy industrialization
c. urban encroachment
d. B & C
d. Heavy industrialization & urban encroachment
What made the 310 model profitable despite charging the same interest rates with no collateral
Lower operational and delivery costs
An average bank spent $394 USD on processing a microloan whereas it takes MyBank an average of $0.34 USD to process a microloan
Either:
Small farm holdings
Lack of sufficient finance
One way that MyBank helped benefit farmers (3 identified in the book)
1. Farmers can produce better crop yields by being able to invest in better equipment
2. Bring rural/ small farmers out of poverty that also helps benefit the overall economy
3. Less farmers would go to loansharks or other rural lenders that charge exorbitant rates
China's gross domestic product for domestic consumption ranking compared to other countries
1. top
2. middle
3. bottom
3. Bottom (1/3) of it
Chinese government incentives for farmers
a. privatisation
b. improved farming techniques
c. higher-yield grains
d. 1 & 2
e. 1 & 3
f. all of the above
Biases of MyBank's rural finance decision (name one)
a. Rural people were poorer than city dwellers and did not have the willingness to repay
b. No farmers would apply for loans because of the nature of the small businesses
c. It would not be profitable to lend money to small businesses / farmers
d. Cityfolk were more trustworthy and better customers
Challenge(s) of financing the agricultural sector
Any of the following:
High costs of reaching remote areas,
Issues with scattered crop concentration
Price Volatility
The two problems associated with satellite imagery (name one) hint: one is related to cost and the other differentiation
1. High resolution images are costly, and low resolution images were too time consuming to process
2. Differentiating crops based on images is difficult because of various agriculutural conditions